A 26-year-old firm from the small town of Uncasville, Connecticut, has joined LPL Financial’s broker-dealer, RIA and custodial platforms, having grown a $220 million AUM practice.
Michael Doherty Jr. founded Doherty Financial Services in 1997 and has always put family at the heart of the business, both in terms of the clients they focus on – helping families along their financial journeys – and also with their team.
Doherty’s parents and sister Karen joined the firm in the early days and his son Ryan joined as an advisor later to bring three generations of Dohertys under one roof. Advisor Ryan Pelligrini, although not a family member, is known affectionately as “Cousin Ryan.”
Priding themselves on having a ‘mom and pop’ feel to their office where they know their clients’ names, the team also includes three support staff.
“We are truly family-focused and consider our clients our family friends,” Doherty said. “We grew this practice from the ground up by building solid relationships with clients and making them feel comfortable talking about money and their financial plans. We make a point to be there for our clients whenever they need us as they work toward their financial goals.”
Switching the firm from Commonwealth Financial Network to LPL Financial reflects an increased demand for a strong technology offering.
“The industry continues to evolve, so it was important for us to find a partner that’s highly committed to investing in innovative technology,” added Doherty. “With LPL, we have best-in-class technology, a dedicated service pod, multiple investment platforms and enhanced resources to be more efficient in our work. We want to be in a position where we can take care of our clients now as well as the next generation of clients, which prefers more virtual tools and digital capabilities, so this move puts practice in the best place going forward.”
Meanwhile, Carson Group extends its acquisition strategy with a Maryland-based advisory practice.
Financial advisor Craig Robson shares the lessons he learned after leaving Merrill Lynch to set up his own practice in the fourth installment of InvestmentNews' new 'Independence Stories' series.
With an aging advisor population, report looks at demographics, structures.
Formerly Fidelity Investments leader will drive move to comprehensive services.
Lawmakers decided not to agree compromise proposal in Trump tax bill.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
